(Answered) Question a bank manager wants to know the mean amount owed

Statistics

Question: A bank manager wants to know the mean amount owed on credit card accounts that become delinquent. A random sample of 100 delinquent credit card accounts taken by the manager produced a mean amount owed on these accounts equal to $2640. The population standard deviation was $578.

a. What is the point estimate of the mean amount owed on all delinquent credit card accounts at this bank?

b. Construct a 97% confidence interval for the mean amount owed on all delinquent credit card accounts for this bank.

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92488576
Price:- $15

Verified Expert

Priced at $30 Now at $15, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

Assume that 8 of people have ab blood a hospital blood bank

Assume that 8% of people have AB blood. A hospital blood bank needs ABblood so the blood bank begins checking potential donors. Use this Excel file geometric probabilities (enable the macro after opening the file) or thi ...

Nbsp1 nine percent of men and 025 of women cannot

1. Nine percent of men and 0.25% of women cannot distinguish between the colors red and green. This is the type of color blindness that causes problems with traffic signals. a. If six men are randomly selected for a stud ...

Assume that you deposit 1293 each year for the next 15

Assume that you deposit $ 1,293 each year for the next 15 years into an account that pays 10 percent per annum. The first deposit will occur one year from today (that is, at t = 1) and the last deposit will occur 15 year ...

Thinking specifically about disney theme parks how does

Thinking specifically about Disney theme parks, how does Disney connect with the target market? What are some of the challenges associated with Disney theme parks? Use examples.

1 assume that the international average homicide

1) Assume that the international average homicide victimization rate is 2.92 (per 100,000). In a sample of 24 industrialized nations, LaFree and Drass (2002) found that the mean homicide victimization rate was 1.49 (per ...

1 what is the price of a semiannual 1000 par value bond

1) What is the price of a semiannual $1,000 par value bond with four years left until maturity that pays a coupon of 3.75% and is yielding 5.25%? What would it be yielding if the price decreased to $973.47? Assume semian ...

Which is more detrimental to the sale of a popular athletes

Which is more detrimental to the sale of a popular athlete's paraphernalia, bad behavior on-the-field or bad behavior off-the-field? What is the Null Hypothesis: What is the Alternative Hypothesis:

A random sample ofnbsp86nbspeighth grade students scores on

A random sample of 86 eighth grade? students' scores on a national mathematics assessment test has a mean score of 292. This test result prompts a state school administrator to declare that the mean score for the? state' ...

Translate the statement into a confidence interval for p

Translate the statement into a confidence interval for p. Approximate the level of confidence. In a survey of 1000 U.S. adults, 19% are concerned that their taxes will be audited by the Internal Revenue Service. The surv ...

Ye observed the following returns over timeyear

You have observed the following returns over time: Year BMG Market 1990 18% 13% 1991 4% 8% 1992 -12% 3% 1993 16% 10% 1994 18% 11% What is the beta for BMG?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert